AquaLand Development Acquires Lone Star Brewery
- May 12, 2015
Austin real estate company AquaLand Development announced the acquisition of Lone Star Brewery, the first large mechanized brewery, built in 1884. The price of the transaction remains undisclosed.
AquaLand purchased 36 of the 60 acres from the Newell family, including the old brewery, cannery building and grind shop. At a later date, the company has the option to purchase the remaining acreage.
The new owner wants to turn the historic site into a mixed-use development that includes a micro-brewery, multifamily housing, a theater, music venues, restaurants, a farmer’s market, retail spaces, offices and parks, reports San Antonio Express-News.
“It’s going to be more targeted to the south part of town,” AquaLand Vice President Mark Evans said. “We’re going to do everything we can to preserve the historical features. … There are a lot of folks who have been in South San Antonio for a long time, and we’re listening to their wants and needs. So there’s no leveling of buildings that’s going to happen here.”
The project has the potential to revitalize the urban area further south. Moreover, according to San Antonio’s Center City Development and Operations Department, there are approximately 700 market-rate housing units either under construction or approved for the area around the Lone Star site.
Photo courtesy of Wikipedia.